Read our Finance Reserves review to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a freserves.com review. They also use freserrves.com domain.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So Finance Reserves is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about Finance Reserves in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
Finance Reserves Review Conclusions
Making the Finance Reserves review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Finance Reserves review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected].
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
I got scammed by this company. As soon as they took my money, I told the lady on the phone I wanted to cancel the transaction/wanted a refund/ reverse the transaction immediately. Like you said, she refused. I also made requests via email to which she responded in writing saying I could only get my money back if I sent her copies of my personal identification. I told her i wasn’t giving her these and again requested an immediate refund. I called my bank and spoke to the scam and fraud department. My bank sent the company an email saying this was an unauthorised transaction and not to withdraw the money from my account. I also had to cancel my card. Four days later now and the scam company took the money out of my account. I’m now on hold with my bank again to see what the next step is to hopefully getting my money back.
Hi Denise,
Without knowing this company, I opened an account an put quite some money on there.
Did you ever got your money back?
So far I was not able to withdraw anything. All works well, contact is more or less OK but I think the problems will start when they need to transfer money to me.
I was promised to get a cashback for March of 550€ and the sent it to a wrong number, so till now I did not get anything.
Thx to let me know and maybe you can help me what I can do.
Rgds, Guy
Dear all, now almost 3 months ago I got into their system and yes … the modus operandi to first gain the trust and then propose other investments, invest extra money, … they handle and push a bit on … and this through different Account or Financial managers … and yet …. today I cannot really speak of scams. Day trading takes place on a weekly basis with small winnings that are neatly visible on the account … I even got, up to 2 times, that they make money back (withdrawals). After the many negative reviews, gentle pressure from my wife and above all common sense (but with a bit of regret in my heart) I asked a few weeks ago to cancel my account (according to the general terms and conditions this is only possible 3 months after closing an account), their first reaction was of course incomprehension after submitting the negative reviews as they still did not commit any fraudulent acts to date (and I cannot deny that). My basic contract expires in April and I expect a signal from my Account Manager soon … I will keep you informed and in the meantime cross my fingers that this will be closed correctly ……. but … I am aware that it will probably go wrong …. I also posted this review on another forum and no … I am not an employee of FR
TOTALY scam, criminals never send them money.
After some first investments and smelling money they will call you every day.
They are soo nice and have so nice proposals.
After telling them MAYBE to invest for another investment, I was stunned.
My account manager named Bosko Dominic is such a good lets say a wonderful man, he became permission the management put 200000 US$ on my account, without request from me.
Such a good good hearted people.
This was only needed to steal the money from my account.
Messages or mails are unanswered.
This company and staff members are accomplished criminals, thieves.
They all belong in jail.
Don’t send them money, don’t answer their calls.
You will be spared a lot of suffering
Right, I also lose 3100 euro.
They never replied mails or messages.
Internet scammers.
Don’t send them money.
Finance Reserves cost me $1300
not as much as many people lost
but worst is BANXA they used them wont even do anything about these scammers wont even reply to my email they know they are crooks
bank told me they cant do anything
asked for a refund and just get screwed around now they froze my account
i called them and this person tells me i have to give them my id code told them to f them selfs
they have phone numbers in every country but they are mobile phone numbers was a bit late picking that up my loss
as promised, here’s a little feed back regarding my previous review that was still quite positive at the time … but yes, just like other people, I am now also one of the victims, my account is still open, but after dozens of requests (on their site, emails, sms ) I get no response and they do not refund my money, we can only advise against doing business with these people through various channels to keep everyone from these scammers
some one needs to set up a facebook page that looks like theres
to let every one know to not put there money in there
i bet you we will see thousands of complaints
Sir you are trying to pay taxes on profits with profits, this doesn’t make any sense.
this is what i gor from these pricks
Hello Mr. Creemers
As mentioned in our phone call, sending Bitcoin to your bank is not possible, your bank does not accept that.
You are required to pay the tax in case you would like to cash that.
On Fri, Jun 18, 2021 at 2:50 AM r wrote:
Why would I need to send proof of payment as you were sending me my money
From: Bruce Hersfield
Sent: Thursday, 17 June 2021 9:15 PM
To:
Subject: Re: *Official Notice on Frozen Trading Account
Sure! Do you need my help with the payment?
If not please provide me with POP (proof of payment)
Thank you!
Not send them money, you will lose all!….
Scammers, fake, they all belong in prison
they all need to be lined up and shot
dear colleages, fellow sufferers, do as I do … file a complaint with the police, who inform me that there are already several complaints, but due to additional information (bank accounts, …) the network will gradually come into view … and hopefully be rolled up ….
Hello everyone. My name Robert Braga. I let all websites blocked in Belgium now, q-teck, invcenter,freserves.com so this is a problem fixed. Do anyone know more names of websites ,I check it and block it as well ! Thanks and keep your money save.
Dear all it is best to exchange names of people used, e-mail addresses, IP number, telephone numbers, the bank accounts and addresses you have send money to, amounts of money loosing, country you are from. This in order to be able to collect maximum information for the people(police, courts, banks) to demasks these people and organisation, put people under pressure, block people to present them selves such as via the Web…via Google, Facebook etc.
We can start also a Whats app group for fast communication. We can start communication via Linkedin. Facebook etc.
Dear all it is best to exchange names of people used, e-mail addresses, IP number, telephone numbers, the bank accounts and addresses you have send money to, amounts of money loosing, country you are from. This in order to be able to collect maximum information for the people(police, courts, banks) to demasks these people and organisation, put people under pressure, block people to present them selves such as via the Web…via Google, Facebook etc.
We can start also a Whats app group for fats communication. We can start communication via Linkedin. Facebook etc.
At the beginning of this year, I was tricked into working with the stock exchange at Financereserves, contact with Jack Rollins.
Yields would be very high and after two months my investment would be refunded and work would continue with the proceeds, but nothing came of it.
Asked several times as promised to do but to no avail.
I even only asked to return my bet and they could keep the profit.
Hi Robert Braga, once again they have changed their website…. this time it calls “financeresm.com” so these scammers can go on for years to come …
Scum